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Greenland: The Next Mineral Frontier

8/22/2013 10:30PM

The ice in Greenland hides troves of metals. Thawing seas and changing geo-politics are making mining these resources a possibility. New mining projects may depend on China, the world's biggest importer of natural resources. WSJ's James Areddy reports.

This transcript has been automatically generated and may not be 100% accurate.

... I ... the secret my age traces of iron ore copper nickel and other minerals ... now following seas and changing geo politics are making nineteen these resources a possibility ... the operation ... the thing that will be open in our minds ... the coupe and how it didn't isn't looking ... for in mining groups are prospecting more than one hundred projects ... across ... this icy terrain ... the shipping containers on this site sit for hours by speedboat into a fuel or called you heat it ... they are just the start of a two point three five billion dollars ... iron ore mine ... plan by British company ... Lundin Mining Limited ... like several mining projects in Greenland ... this one may depend on the world's biggest importer ... of many natural resources ... China ... as an investor ... builder and cost ... it has the European name ... London Mining ... but hearing Greenland his company is all about China ... their plan is to produce high quality iron ore from the frozen mountains ... here in Greenland ... and ship it out ... possibly over the North Sea route to China ... statement in Chinese companies helped design London Mining's project ... the deal calls for forty five percent of the initial workforce ... to come from China ... a single large mind could fundamentally alter green lands to billion dollar economy ... seafood makes up above ninety percent of the island's export earnings today ... but any project here will face hurdles ... the world's biggest island has a harsh environment ... Greenland lacks roads and electricity outside its major towns ... miners get around by helicopter ... they haul equipment by dog sled ... and write boats in water so cold ... that few bother with life jackets ... Greenland is a semi independent territory of Denmark ... the island's ethnic in U S population ... wants to prove it can prosper without being as handouts ... but any significant tilt toward China ... could disco for Denmark and its ally ... the US ... the island is militarily strategic ... that makes mining a geo political issue ... were you ... can decide for themselves who trade ... and China will be the first case ... of openness ... and acceptance of from ... our lives the Minister of mines ... the the ... the ... of ... actually the less room ... to stop the with the show ... no China backed projects have actually begun here ... BG has called suggestions it covets Greenland ground was white ... still ... China has Arctic conditions ... in the home and one owing to the loo woman who has an economic point of view we have close ties to the markets as a near Arctic state ... Arctic sea routes will play a good role and that ... the government when the woman's inside ... in Greenland officials are confident Chinese investors ... will sees opportunities in this Arctic front here when ... you go to ... it is fun ... it's a risky business because Heidi's ... blog ... to to read the Tell machines ... the next maybe twenty years ... going beyond Chron to ... Ciena Aereo ... I'm James Areddy with a Wall Street Journal in Greenland ...